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Afternoon Note

More Subdued

By Charles Payne, CEO & Principal Analyst
2/23/2024 1:34 PM

After an amazing session yesterday, the markets are a bit more subdued.  Although, NVidia (NVDA) is continuing its climb, up another 2%.  It is helping lift some of the other semiconductor names also, but not all of them.  Perhaps, investors are being a bit more selective, or perhaps, piling into other names. 

Earnings continue and companies that beat are being rewarded, such as Block (SQ) that is up 20%.  Conversely, those with less than stellar results or light on guidance are being punished, like Booking.com (BKNG), down 10%.

Eight of the eleven S&P 500 are in the green with Energy lagging.

A green pie chart with white textDescription automatically generated

Advancers outpace decliners as do new 52-week highs.  Volume is even on the Nasdaq.

Market Breadth

NYSE

NASDAQ

Advancers

1,895

2,364

Decliners

906

1,700

New Highs

236

224

New Lows

32

122

Up Volume

1.00 billion

1.45 billion

Down Volume

687.65 million

1.45 billion

The major indices are all on track for another positive week, ranging around 1.3%-1.6%, if the market holds.

Have a great weekend. 


 

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